Chanchal Bunchapattanasakda. Enhancing family manufacturing business successor's ability and motivation. (). King Mongkut's University of Technology North Bangkok. Central Library. : , 2560.
Enhancing family manufacturing business successor's ability and motivation
Abstract:
Diminishing entrepreneurial motivation of the successors and imperfect conditioning of the
successors by their predecessors have been generally cited as the ground of worldwide phenomenon
of third generation decline in family business. Given the significance of family business to the economy, this
study sought to qualitatively find out what provided the successor with more ability, more motivation,
and/or less obstacle in succeeding his/her family business and how successful the successions were
from ten successors of the SET listed family manufacturing businesses. For the former, successors
willingness in taking the helm, predecessors trust in the successors capability, rewards from working
with the family business, advance preparation of the successor for succession, and capable team were
essential factors identified. For the latter, findings revealed that the successions were somewhat
successful for a big portion of the sample group reported their first year business performance as
unchanged. Implications were discussed.